Banking & Finance  December 21, 2015

RGS Energy signs letter of intent for new $5 million loan facility

LOUISVILLE —  RGS Energy (Nasdaq: RGSE), a residential and small-commercial solar installation company based in Louisville, has signed a letter of intent for a new $5 million loan facility.

The new loan facility will replace the company’s existing line of credit with Silicon Valley Bank. The new loan facility will be provided by Solar Solutions and Distribution LLC, a Colorado-based renewable energy solutions company. In addition to distributing standard solar products since 2009, Solar Solutions provides sustainable-energy solutions and products globally. Solar Solutions has been doing business with RGS Energy since 2010.

“We are excited about this new loan facility and expanding our relationship with Solar Solutions and Distribution,” said Dennis Lacey, CEO of RGS Energy, in a prepared statement. “This new facility will provide us with more favorable terms than our current bank line, including access to more funds through the use of additional collateral and an extended term through March 31, 2017. We expect this new facility to be in place by the end of 2015.”

SPONSORED CONTENT

Ways to thank a caregiver

If you have a caregiver or know someone who has been serving as a primary caregiver, March 3rd is the day to reach out and show them how much they are valued!

LOUISVILLE —  RGS Energy (Nasdaq: RGSE), a residential and small-commercial solar installation company based in Louisville, has signed a letter of intent for a new $5 million loan facility.

The new loan facility will replace the company’s existing line of credit with Silicon Valley Bank. The new loan facility will be provided by Solar Solutions and Distribution LLC, a Colorado-based renewable energy solutions company. In addition to distributing standard solar products since 2009, Solar Solutions provides sustainable-energy solutions and products globally. Solar Solutions has been doing business with RGS Energy since 2010.

“We are excited about this new loan facility and expanding…

Sign up for BizWest Daily Alerts